May 5th, 2015 7:15 AM by Jackie A. Graves
April is National Financial
Literacy Month and a good reminder of how important it is to be financially
literate. It's especially key if you're thinking about buying a home.
To become a successful homeowner, financial education is a must.
Our free CreditSmart® course can help you build or repair
your credit, avoid costly scams, and make sound financial decisions. Take the
12-module course online, or in a
class led by a HUD-approved housing counselor.
You'll get help making a budget.
And find facts about down payments like these:
The typical range for a down payment is 3-20%
Private mortgage insurance is usually required if you put down
less than 20%
You'll learn what types of
mortgages are available and how to shop for a home loan … And get tips on
buying a short sale or REO/Bank-Owned Property.
Get ready for homeownership.
Check out CreditSmart — It's a smart first step.
Meet a family that bought their first home with help from CreditSmart, Freddie Mac's financial
Eleanor G., a single working
mother, had always wanted her two boys to grow up in a home of their own.
Eleanor, who lives near Atlanta, was eager to explore her options and see what
was possible financially. She took that first important step by going to a
CreditSmart workshop at her local church.
Sponsored by Freddie Mac's
Borrower Help Center in Georgia – and facilitated by the HUD-approved housing
counseling agency D&E – the classes gave her the knowledge and support she
needed to become an informed homebuyer.
With the help of CreditSmart,
housing counseling, and down payment assistance, Eleanor purchased her first
home that next year.
"I was able to accomplish my
life-long dream of buying a home … AMEN!" said Eleanor. "I came to
the classes with no established credit and this program helped me to truly
understand credit, as well as learn how to obtain and use credit cards
effectively. I am eternally grateful to both D&E and CreditSmart for
helping me and my family accomplish our dream of homeownership, a goal that I
first thought was impossible!"
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